Meeting with Brad Duguid, minister of economic Development, Employment and Infrastructure of Ontario.
In 2014, Ontario has been designated the most attractive area in North America for foreign capital*. What does it more than the other?
Ontario has outpaced the United States and other canadian provinces in 2014 in several key areas. She is ranked as the first destination of foreign investment for the second consecutive year with funds amounting to 7.1 billion US$. The Province has several strengths ; it has the workforce the best educated of the G-7 countries (65% of ontario’s population between 25 and 64 years with post-graduate studies) and modern and efficient infrastructure, which allows businesses a direct access to the north american market, with a value of more than 19 800 billion US $ in 2013. Ontario also offers a tax very competitive for businesses – the tax rate is 13% below those applied at the federal level in the United States ; it relies on solid infrastructure in terms of R&D that the cost advantage is estimated at over 18.8 per cent, compared to the United States, not counting tax incentives that reduce the cost after tax for companies doing R&D in Ontario.
in Order to sustain this economic dynamism, the provincial government has allocated significant budgets…
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The government recently announced that part of the province’s budget would be used to increase the grants from the Jobs and Prosperity Fund (Jobs and Prosperity) of US $ 200 million over 9 years to attract more investment. These funds will be used to develop innovation and create jobs in the province. The fund will also expand its program at the forest branch. The Jobs and Prosperity Fund has 2.5 billion US dollars made over ten years to develop an environment that is dynamic, innovative and business-friendly. The fund has three components; the New Economics, the objective of which is to capitalize on the R&D, the pane Strategic Partnerships to make Ontario companies more competitive internationally. Finally, the Growth Fund Agri-food to support projects of manufacturing of agri-food products as organic.
with regard to administrative simplification for businesses, you also have measures in place which will make dream of business leaders the French…
In the framework of the reduction of the administrative burden, we have put an end to 80,000 regulatory requirements and introduced new tools to make more transparent the regulatory process and give more visibility to the economic actors. This reduced administrative burden will lead to savings estimated at US $ 100 million by 2016-2017.
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*annual Report of fDi Intelligence, a division of the Financial Times, on the innovative projects of investment in the world.
